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Home My WebLink AboutRESO 895• ,I '· . ,M• f" •','•"•oll.'l•""i-" J.<'n ••1~1f","•·~f.t•,'•/<\0' 0'\f',-·~\'~~'"'lto .. •'l"''fll,..,'\••v,.,.\ ,,_," 1'\lh ~1't;.,OI;\'~ .. ,"t\J',t,<> .... I> l~lJ;'t•t,..•h.~l'o ,.,t, ,.-,., '.'"');-<IIJ'''r'• ~-•'Vf;,<t~.f',"'fll'"~"-r1('o. '•t"' , .. l"_l,~~~··~l•'•' \.f ,.., • ., •'' _ , ,~ •• .,. •• 1 ,~,'.'>;'-~~~•;''r', ~-1~ I ~ R E S 0 L U T I (j N N 0 • 895 ------------- kESOLTJTION PROVIDING FOR 'l"'AE I::sS7JANCE OF' lMPROVEidENT ~, RE; IM.J!?VE:M1!.'NT OF' POPE 3TREE'.£.1 'E."; ~· WHEREAS, the council or the City of Palo Alto did, on the 14th day or January, 1929, pass and ado't its Resolution ot Intention No. 717 rol~t1ng to certain work proposed to be done and improvement to be made 1n said City, a3 therein doacribed, urder and nursuant to the provisions of the "Improvement Act of 1911, a.nd amendmen.ta ther·eto, and did therein :Provide that serial bonds would be issued thereWldo:r in tho manner provided bv the "Improvement ~ . BOnd Act of 1915 , reference to said resolution of intention being hereby expressly made for further part,culars; and WHEREAS, the contract tor said work &nd improv~ment was duly awarded and thereart~r duly comp~eted to the sat1a.f'act1on or the 3uptlr1.ntendent of Stre'l.lts of. said City and this Council, whereupon e.n assessment, warrant and diagram were made, recorded and delivered to the contractor in time, form and manner as required by said act, and the contractor having made due return there~n qr.d the same hRving been duly filed; and ~~REAS, on June 18, 1930~ the Street Superintendent of said City made s.nd .filed with the clerk of th1s city a complete list or all assessments unpaid thereunder ~on the respective assessment or diagram numbers thereon, whereupon, said clerk gave notice of thef111ng of said list, and fixed in said notice the 27th day of June, 1930, nt the b:>ur of 7:30 o'clock p. m. as the time when interested persons might appear before the City Council at the regular me~ting place of said City Council in the City Hall and show cause why bonds should not be issued upon the !ecurity of the unpaid assessments shown on said list, all of which appears from affidavits on file in the office or said cle~k; WHEREAS, there having been no protests or objections against the issuance of bond& as aforesaid presented before or at the time of said hearing; and ~~EREAS, since the filing by said Super1ntenddnt of Stro..sts of said list of assessments unpe1d, the following nssasso~nts have been paid, to-w1t: Assessment s.nd Diagram Number 99 100 101 102 10~ 105 l·:l6 Amou!"t of Assessment Paid • 3.93 3.96 3.96 3.96 113.54 44.73 44.73 aggragat1ng the total sum of ~218.81 leaving a balance du~ on account of .sn1d unpaid asaessments of i4,071.22;. and said list of assessments unpaid, filed by said ~~treet S.uper1ntendent as aforoaa1d, appearing in all respects complete and correct after, axcept1ng and deduct.1ng therefrom the assessments psi d since the filing thereof, as hereinabove set forth, 2~H } ~ ! r. ·;I I .·~ ~ [f ,. '~ .. ~ • . ·:· ... ~, '.4 <'·} ·. 294 NOW, THEREF'ORE, it 1& hereby resolved 9.nd found e.nd determined by said Council. tlult said list of assess- menta unpaid filed by said Street Superintendent as aforesaid was at the time of sald filing thereof in all ·respect a complete and correct) Utd that sin\3e the filing thereof, assessments have been paid sggreB&ting the sum of $219.81, as hereinabOve sat forth, and also that the unpai.d assessments in the proceedings duly had and taken und•.::r and pa.rsurmt to said Resolution of Intention No. 717, and tbe aggregs.te amount of the same are as follows; to-wit: (Sao l1at'1n file) and the said council does hereby further !1nd and determine that the total or aggre6ate amount of said assessments unpaid is the sum of •4,071.22; NOW THEREFORE 1n consideration or the premises, the council of the city of Palo Alto does nereby furtner reaolv~ as follows, to-wit: Section 1. That bOnds shall be 1esued upon the sectlrity of said unpaid aesessmdnts in the ea1d al'l))unt ot' •4,0?1.22 1n accordance with the provisions of said ''Improvement Act of 1911" a.s amended and said "Improvement Bond Act of 1915" e.s amended and und~r and pursuant to the prov1s1onu of said Rasol~tion of Intention No. 717 and the proceedings thereundor duly had and taken, said bonds shall be called 11 .!.mprovament BonC.:J"', shall be ten (10) in number, shRll be dated June 2?, 1930, ana bear 1nt;ereet at the rate of six l6) per cent per annum from April 11, 19301 and the d • .mom1nat1ons of said bonds and the interest coupons re..:tu1red to be attached thereto, w1 th their respective nunbers and datee of maturity, are as follows: Series Bond No-Denomination Date of Matur1tz -------- R 1 $407.13 July 2, 1931 R 2 407.13 July 2, 1932 R 3 407.12 July 2. 1933 R 4 407.12 July 2, 1934 R 5 407.12 .. Tuly 2, 1935 R 6 4\TI .12 .ruly 2, 1936 R 7 407.12 July 2, 1937 R 8 407.12 July 2, 1938 R 9 407.12 July 2, 1939 R 10 407.12 July 2, 1940 Sec. 2. With reference to said bonds having a denomination of ~407.13i the first coupon. attach~d to each of seid bonds shal have a denomination or $17.71 and the subsequent coupons attached to each of said bonds shall have a denomination of il2.2l. iat:n referonce to said bonds having a denomination of ~407.12~ the first coupo~ Att~cbed to eaeh of 3a1d bonds shall have a denomination of $17.71 and the su't;lseq,uent cou-oons attached to t:sach of add bonds shall have e. denomination of i12.21. The first coupons abOve refe1red to shall represent interest upon the principal of the re~pect1vo bonds to which the same are respectively Attached coming due J anu.a.ry 2nd, 1931 ~ and the subsequent coupons above ro ferred to shall represent tha interest coming due on the principsl _. :.n :-:, ....... =:s; :J • <, . ' -~·; f ~- ~· ·r ~· ~) ~ ~ ,-; ,·,-. ·' •_ ,, ":f"' .~~~~...-..,~~~: , ' ':>,_,,·,~;,..! t;4 il(~ 'i"" ... ,, .: f"" • '•I ''-""'~·' . ''• • • .,..._,_.,,, ~~·,..,. '14.'.' • ..,. ... , , ,.,.,..,j··,.,.~7;;"-~!r'-''~t'~\'" .. ~\'•f'.l'r.~,~·-,-, .. ;•···•,; ... ., •• , .. :-~,,.,..'\.f'"''!l•'t~~.-.~r~-!:~~, .. ··•·t_~'~'fi'.'-'l';'"'."":·r;~4-~~;~ryt~~~\ ... [ 1.'' of the respective 'bonds to which the same aNl respectively attached for the several semi-annual p~riods subsequent to said date. See. ~. Said bonds shall be issued in series, and th~ unpaid aese58ments as shown on aaid lilt filed by the Superintendent of Straets and determined by the said City vounc1l together with interest thereon, shall rem~n and constitute a trust fund for the rddemption and payment or said b<;nds l.'nd of the interest which may be due thereon, which unpaid assessments shall be payabl-e in annual series corresponding in number to the number of serl~s of bonds 1saued, and an even annual proportion of each assessment shall be payable in each year preceding the date or th~ maturity tor each of the several series of bOnds 1ssueu, and nuch proportion of ~ach assessment coming a..~e in any year, together w1 th the annual 1ntf.lre3t thereon, shall in turn be paya.ble in installments as the g~n~ral municipal tAxes of said City on real property are payable, and shall be co: ~e delinquent at the s rune t1'Ties 'lnd in the srune proportionate s:nounts and bear the same proportionate penalties !or-delinquency. Said bonds shall be signed by the Treasurer of said City and countersigned by the clerk who shall affix thereto the official seal of said C1 t:;; the interest courxms affixed thereto shall. be si.gned by the Tre,Asurer or bear his engraved, printed. or 11thouaphed signature; and such signing snd sealing of said bonds by said of1'1ca:rs and signing of said coupons by said Treasurer shall const1tut;;, nnd. be a sufficient and binding execution of each and every one of said bonds and all of the coupons theroor respectively. Said bonds ehall be su~s tant1e.lly in the form set forth in skid "J..mprover:.ent Bond Aet of l915q, as amended; said Treasurer and said Clark a.re hereb:; lluthorized and directe·::~ to so s1gn and eountel·sign respect1 vely. The interest coupons attached to each or sn1d 'bonds ano. evidencing the 1nta:re~t to accrue thereon sha~l be numbered consecutively and b~ substantially 1n the following form, to-wit: ~OU?On No. ~ The City of Palo Alto, California, will pay to th~J bea:r·e:r hereof on the second da;; of 19 , $ at the office of the City TreRsurer, said num bei.ng the s..:mi-annual inte1·est dt~e on Improvement ~nd No. of ;;:aries No. 1. Dated: H • .1:''. vongdon Troasur;..;.c ;iuc. 4. Said bonds shall be forthwith d~liver~d. to The Pac.: n.c Corr.pany I an signee of' 0. ~ •• Cust..lng, the contra.c tor, in satisfaction of the balance due him u!)On his assessment and warrant. .1 hereby certify that the foregoing resol1.;.t1on wa.s duly and regularly introduced and aco::oted by the t:oun:!l of the City of Pulo Alto at a reg1Jla:r r.1esting thereof held June 2'7 , 19~0, by the fOllowing VO t~ , to -w1 t : B6 rttiche, Christensen., Hcbart, Johnson, Judson, AYES: Kelly, Lausten, ~!osher. NOES: None. 2B5 ABS"RNT· 1!1ss Bau.cl'l.. Cathcart, lli1tchell, Tholta, Thomas, ~ • Mrs. Tho1!1a5, wooa.. ~GZ.a ~ Approved: e,.;J.r:JM'fw~ Attest: <= Mn:,ro:r C erk '11 ·~ \.· "" -1. ~! 4 "' .. ·; ~ l ., ·~ a ~ ·\ 'i ·, ~ f' ~ 't -~ ~ ~ :l ·:! 1 .} :i ;1 f •